#Solana激增 Core Drivers of Recent Price Surge in Solana

1. Dual Explosion of Network Traffic and Capital Inflow

Liquidity Migration: In the past 30 days, over $120 million in liquidity has migrated from other blockchains (such as Ethereum, BNB Chain) to Solana, driving a rapid price increase. This trend is closely related to the boom in the memecoin market, where platforms like Pump.Fun have attracted a large number of users and funds through airdrop activities.

Transaction Fee Advantage: Compared to traditional blockchains like Ethereum, Solana's transaction fees are as low as $0.0001, making high-frequency trading and speculative activities more attractive, further stimulating network activity.

2. Dramatic Expansion of Stablecoin Supply

Supply Surge: In the past 24 hours, the Solana network has added $106.8 million in stablecoins (such as SOL), reflecting a surge in market demand for SOL as the 'digital dollar.' This change is closely related to the popularity of TRUMP coins (such as the $TRUMP meme coin), which increased stablecoin supply by 73% to $11.1 billion in February 2025.

Wealth Effect: As SOL's price rises, more users are starting to use DeFi applications on-chain (such as lending and trading) and participate in memecoin speculation, further amplifying market liquidity.

3. Protocol Upgrades and Infrastructure Breakthroughs

Scalability Enhancement: Projects like Firedancer and Double Zero have raised Solana's throughput target to 1 million transactions per second and optimized blockchain infrastructure, improving transaction speed and reliability. These technological upgrades have boosted market confidence in its future potential.

Economic Model Optimization: Projects like Jito have locked 90% of the network's staking share by adjusting the maximum extractable value (MEV) landscape and allocated over $1 billion in MEV tips, providing sustainable incentives for validators and reinforcing the stability of the ecosystem.